MacroGenics (NASDAQ:MGNX) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other research firms also recently issued reports on MGNX. B. Riley downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $5.00 in a research report on Wednesday, July 31st. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. BTIG Research lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st. Guggenheim lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. Finally, JMP Securities decreased their price target on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.11.

MacroGenics Stock Performance

Shares of NASDAQ MGNX opened at $3.77 on Friday. The company has a market capitalization of $236.45 million, a P/E ratio of -1.71 and a beta of 2.08. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88. The company’s 50 day moving average price is $3.55 and its 200-day moving average price is $5.21.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The company had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. Analysts forecast that MacroGenics will post -1.72 earnings per share for the current year.

Institutional Trading of MacroGenics

A number of large investors have recently added to or reduced their stakes in MGNX. Avoro Capital Advisors LLC purchased a new stake in MacroGenics during the first quarter worth about $90,528,000. Armistice Capital LLC boosted its position in MacroGenics by 150.0% during the second quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $25,500,000 after purchasing an additional 3,600,000 shares during the period. Millennium Management LLC boosted its position in MacroGenics by 3,473.7% during the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after purchasing an additional 3,219,977 shares during the period. Price T Rowe Associates Inc. MD boosted its position in MacroGenics by 8,361.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock worth $35,889,000 after purchasing an additional 2,409,237 shares during the period. Finally, Marshall Wace LLP boosted its position in MacroGenics by 1,689.3% during the second quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock worth $2,797,000 after purchasing an additional 621,232 shares during the period. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.